By Marisa Wong
Los Angeles, Sept. 2 – HSBC USA Inc. priced $2.88 million of 0% buffered Accelerated Market Participation Securities due Aug. 31, 2023 tied to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any ETF gain, capped at par plus 35%.
Investors will receive par if the ETF falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered Accelerated Market Participation Securities
|
| Underlying ETF: | SPDR S&P Biotech ETF
|
| Amount: | $2,883,000
|
| Maturity: | Aug. 31, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any ETF gain, capped at par plus 35%; par if ETF falls by up to 15%; 1% loss for each 1% decline beyond 15%
|
| Initial value: | $108.75
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40438CSW2
|
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